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Mortgage free by my own merit

edited 5 January 2019 at 9:59PM in Mortgage-Free Wannabe
117 replies 12.4K views
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Replies

  • OhtobeMortgageFreeOhtobeMortgageFree Forumite
    232 posts
    100 Posts Second Anniversary Name Dropper
    ✭✭
    Did some tilly tallying and overpaid by £10. Every little helps!
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £117,851.04 Current mortgage end date: June 2038
    Total overpayments so far: £3280
    MFW 2020: £1765 / £5000
    Daily interest: £7.59 > £6.76
  • OhtobeMortgageFreeOhtobeMortgageFree Forumite
    232 posts
    100 Posts Second Anniversary Name Dropper
    ✭✭
    £104 household shopping bill (fortnightly with a lot of freezer/meat items included) reduced to £81 this evening. Staff discount and then if I buy yellow sticker items after 9pm I get them for free too. Winning!
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £117,851.04 Current mortgage end date: June 2038
    Total overpayments so far: £3280
    MFW 2020: £1765 / £5000
    Daily interest: £7.59 > £6.76
  • beanieloubeanielou Forumite
    73.5K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    That’s great:)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • OhtobeMortgageFreeOhtobeMortgageFree Forumite
    232 posts
    100 Posts Second Anniversary Name Dropper
    ✭✭
    I've just agreed to 15 extra nightshifts between the start of November and Christmas to bump up the income. Nine extra shifts in November and six in December. I get just under £100 per shift so will definitely be able to add to the overpayment pot again soon.
    I've still got two more overtime nights left this month.
    I've got two weeks of four nights I've taken on. May not sound a lot to some people but alongside other jobs I also have my three year old during the day so I'm going to need to be really strict and creative with my sleeping schedule!
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £117,851.04 Current mortgage end date: June 2038
    Total overpayments so far: £3280
    MFW 2020: £1765 / £5000
    Daily interest: £7.59 > £6.76
  • OhtobeMortgageFreeOhtobeMortgageFree Forumite
    232 posts
    100 Posts Second Anniversary Name Dropper
    ✭✭
    Reviving my diary with an update on my mortgage overpayment journey.
    So, my freelance work dried up almost instantly at the start of the pandemic. I lost a couple of regular contracts I had with  some small businesses. I also obviously lost my gig marking GCSE coursework this Summer.
    I finished at my supermarket job back in January but picked up the phone at the start of March and asked for my job back through the pandemic. Luckily I left on great terms and my boss was more than happy to give me my job back. I'm now back working four nights a week again, which has been challenging whilst looking after my toddler during the day as nursery closed. We're surviving though!!!
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £117,851.04 Current mortgage end date: June 2038
    Total overpayments so far: £3280
    MFW 2020: £1765 / £5000
    Daily interest: £7.59 > £6.76
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • edited 11 July at 1:40PM
    OhtobeMortgageFreeOhtobeMortgageFree Forumite
    232 posts
    100 Posts Second Anniversary Name Dropper
    ✭✭
    edited 11 July at 1:40PM
    Here is our updated spending:
    Husband salary: £2223
    Supermarket wage: £1410
    Child allowance: £80.40
    Client L: £15
    Total income: £3728.40

    My husband keeps back a little money from his salary each month to pay for his phone bill and football programs, etc so this isn't included in this total.

    Monthly outgoings:
    Mortgage - £685
    Council tax - £141
    Water - £41
    Gas/Electric - £70
    Phone/internet bill - £61.50
    Mobile contract - £36
    Nieces/nephew money - £35 (we put away £1 each week into savings for them each)
    Home Insurance - £30
    Netflix - £9
    Contact lenses - £10
    Nursery - £20
    Car insurance - £48
    Car tax - £32
    MOT - £80
    AA - £13
    TV licence - £12
    Cat jabs - £3
    Running club membership - £3
    Total fixed costs: £1329.50

    Food/household shopping - £280
    Petrol - £150
    Gifts - £60
    Total outgoings: £1819.50
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £117,851.04 Current mortgage end date: June 2038
    Total overpayments so far: £3280
    MFW 2020: £1765 / £5000
    Daily interest: £7.59 > £6.76
  • beanieloubeanielou Forumite
    73.5K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    That’s amazing to have nearly 2k a month left. 😀
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
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